Seacor Marine Secures USD 130 Mn Loan

MoneyIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

SEACOR Marine Holdings has entered into a USD 130 million loan facility with a syndicate of lenders administered by DNB Bank.

Secured through the company’s subsidiary Seacor Marine Foreign Holdings, the credit facility is secured by mortgages over twenty vessels.

The proceeds from the loan were used to satisfy in full amounts outstanding under three outstanding credit agreements.

The company said that the remaining USD 28.7 million of gross proceeds is available for general corporate purposes, including potential acquisitions.

SEACOR Marine added that the debt under the loan will mature on the earlier of the fifth anniversary of the date on which funds are drawndown and September 30, 2023.

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